BankruptcyAdvice.ie mentioned in the Irish Independent

The Irish Independent ran an article today on bankruptcy and mentioned BankruptcyAdvice.ie in it. It focused on the fees that are being charged and how the promoters of New Beginning felt that they were offering value for the level of professional service they offer.

We agree that they are professionals and well equipped for this type of work, as for the costs, they aren’t in the same market at all times as our firm, we have a DIY bankruptcy option they are not offering, with them you only get a full service option.

They are however, regulated for debt advice whereas some competitors are not and some may do work cheaper or more expensive and not offer the same services so it’s difficult to make proper comparisons and for that reason you need to know what you are getting and paying for.

Being regulated by the Law Society (for solicitors), the Bar council (barristers) and the Central Bank (financial advisors) or ACCA (for accountants) means you can’t possiblty work as …

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Bankruptcy news

There are new bankruptcies occuring and often in differnt jurisdictions to help resolve peoples indebtedness.

Some of the recent ones are Waterford developer Darryl Kavanagh who is looking for bankruptcy in the US. That case involves €17m of debt with assets of c. €4.7m. Shortfalls like that are hard to resolve other than with bankruptcy.

Closer to home there were some creditor lead bankruptcies involving two former spread betting executives. In this case the people involved were hoping to avoid bankruptcy sumons’s but the judge ruled against them and they were adjudicated bankrupts. Creditor petitions are still by far the most popular bankruptcy course, we are of the opinion it is because the general population has yet to see that it is a debt solution as well, not just some kind of punishment.

Another thing which is often overlooked in bankruptcy is the cost to the creditors, here is an update on

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